Disney Online Acquires Kaboose
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Friday, April 03, 2009
By: Thomas J. Mclean
Kaboose Inc., the Canadian family-focused media group, has split up its assets and sold its North American operation to Disney Online.
Disney is paying $23.3 million for the site, which describes itself as the largest family activity and resource information website. The deal also includes subsidiary sites BabyZone.com and Funschool.com.
The company also has sold its United Kingdom operations to Bounty Group Ltd.
In a statement, Kaboose chairman and CEO Jason DeZwirek said the decision was made to divest the company’s assets because it offered “significantly greater value than we could deliver as an independent public media company in the foreseeable future."
"This acquisition strengthens our position as a top entertainment destination for kids and families, and a trusted online resource for parents,” said Paul Yanover, executive VP and managing director of Disney Online. “These new web properties complement Disney Online's category-leading kids and family sites, broadening our audience and infusing an array of new content into our sites, particularly in the baby and mom categories."
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